Outgoing PEC board president PATRICK COX writes that “The cooperative continues to evolve into a best-in-class organization, working to reduce controllable costs and maintaining some of the strongest reliability statistics in the industry. … This evolution is no accident.” ♦

As we look back on 2014 — and even the past five-to-six years — Pedernales Electric Cooperative’s progress is truly noteworthy.

Patrick Cox

The cooperative continues to evolve into a best-in-class organization, working to reduce controllable costs and maintaining some of the strongest reliability statistics in the industry. We’ve attained those achievements while becoming a national model of open governance and transparency among electric cooperatives.

This evolution is no accident. Board directors have been laying the necessary foundation for smart growth for years. We clearly understand planning and strategy need to be aligned — and in 2014 we continued to redefine how PEC will serve some of the country’s fastest-growing regions.

The cooperative’s financial health has never been better, and we have a clean audit, strong bond rating and an outstanding debt-to-equity ratio.

The board continues to push its commitment to clean energy, revising PEC’s interconnection policy to more equitably compensate members who sell self-generated electricity back to the cooperative. And PEC is looking at continuing to expand its portfolio of renewable energy, offering the possibility for members to access on-site or community solar options for residents and businesses.

Perhaps most importantly, the cooperative increased member equity and reduced rates — a key strategic initiative — while also beginning a thorough cost-of-service and rates study. We anticipate this study, when completed, will result in more rate options for members in the future.

Smarter, faster, cheaper — that’s what all of us are striving for at PEC — now, and in the future.

PATRICK COX, Ph.D. Wimberley

Dr. Patrick Cox, a Wimberley resident, won a special election for a PEC board seat in 2008 and was re-elected in 2009 and 2012. He served the last two years as board president.